Never miss a story — sign up for PLANADVISER newsletters to keep up on the latest retirement plan adviser news.
Diversions March 10, 2011
Luxury by the Hour
Once strictly a business model of less-than-luxurious motels, a growing number of luxury hotels are offering hourly rates.
Reported by Nicole Bliman
Despite growing signs of an economic recovery, luxury businesses are getting a little creative to keep customers coming back for more.
Several newspapers have reported that some of the most high-end hotels in the country are offering rooms during day-time hours for much cheaper rates than an over-night stay would be.
The Chicago Tribune referenced a promotion by Manhattan’s Le Parker Meridien offered before and after Valentine’s Day that included a four-hour stay between 11 a.m. and 3 p.m. for $150–when an overnight stay costs $379. The newspaper also cited the Malibu Beach Inn near L.A., which charges $270 for a daytime stay that includes a three-course lunch and an oceanfront room; the average overnight reservation would be around $400.
But, minds out of the gutters–day-time hotel rates can be used for shoppers who may need to rest, travelers who have nothing to do before a flight, or business meetings away from noisy restaurants.
Nevertheless, USA Today’s hotel-guru, Barbara De Lollis, attended the recent Americas Lodging Summit in San Diego, where veteran boutique hotel creator Chip Conley told her he expects to see a rise in “love hotels.”